19-2103.

Garbage disposal plants or systems and solid waste disposal areas; issuance of bonds; limitation on amount.

The question of issuing bonds for the purpose of section 19-2102 shall be submitted to the electors at any election held for that purpose, after not less than thirty days' notice thereof shall have been given by publication in a legal newspaper published in or of general circulation in such municipality or, if no legal newspaper is in or of general circulation in such municipality, then by posting in five or more public places therein. Such bonds may be issued only when a majority of the electors voting on the question approve their issuance. The bonds shall bear interest payable annually or semiannually and shall be payable at any time the municipality may determine at the time of their issuance, but in not more than twenty years after their issuance. The aggregate amount of bonds that may be issued for the construction, installation, or purchase of a garbage disposal plant or system or solid waste disposal area shall not exceed five percent of the taxable value of the property within such municipality as shown by the last annual assessment.